Deduction under 10A - clarification.

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..... for 100% deduction of profits and gains derived by an undertaking from export of articles or things or computer software manufactured or produced by it. The deduction is available for a period of ten consecutive assessment years beginning with the assessment year relevant to the previous year in which the undertaking begins to manufacture or produce such articles or things or computer software. T .....

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..... ant previously used for any purpose. 2. 'Software Technology Park' has been defined to mean any par set up in accordance with the Software Technology Park Scheme notified by the Government of India in the Ministry of Commerce and Industry. 3. In exercise of the powers conferred by sub-section (1) of section 3 of the Foreign Trade (Development and Regulation) Act, 1992, the Ministry of Commerce .....

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..... itted to the Chief Executive of STP Complex along with the details of the Software project. Such application was to be considered by an Inter-Ministerial Standing Committee (IMSC) constituted under the Chairmanship of Secretary, Department of Electronics, Government of India. 4. Subsequently, vide Notification No. 4/(RE-95/92-97) dt. 30.4.1995 issued by the Director General (Foreign Trade), Mini .....

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..... f Electronics. 5. Instances have been brought to the notice of the Board that a large number of units registered/approved by the Director of the STPI are claiming deduction u/s. 10A whereas the STP scheme requires approval by the Inter-Ministerial Standing Committee of the Department of Electronics. Accordingly, the cases of such claimants have been reopened by the field authorities. 6. The ma .....

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..... satisfied before allowing any such claims. 7. In cases where assessments/reassessments have already been completed, and the claim u/s. 10A has been disallowed only on the ground that the approval to the STP has not been granted by the Inter-Ministerial Standing Committee in accordance with the Scheme, the demand so arising should be kept in abeyance until further orders. (Upamanyu Basu) S .....

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